Cidara Therapeutics (NASDAQ:CDTX) Posts Earnings Results, Misses Expectations By $0.10 EPS

Cidara Therapeutics (NASDAQ:CDTX) posted its quarterly earnings data on Thursday. The biotechnology company reported ($5.38) EPS for the quarter, missing analysts’ consensus estimates of ($5.28) by ($0.10), Zacks reports. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%.

Cidara Therapeutics Stock Performance

NASDAQ CDTX opened at $23.66 on Friday. The stock’s fifty day moving average is $22.52 and its two-hundred day moving average is $17.37. The firm has a market capitalization of $166.73 million, a P/E ratio of -0.93 and a beta of 0.94. Cidara Therapeutics has a fifty-two week low of $10.00 and a fifty-two week high of $28.42.

Analysts Set New Price Targets

CDTX has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating and issued a $24.00 price objective on shares of Cidara Therapeutics in a research report on Monday, November 11th. WBB Securities boosted their price objective on Cidara Therapeutics from $40.00 to $45.00 and gave the company a “strong-buy” rating in a research report on Thursday, December 5th. Cantor Fitzgerald upgraded Cidara Therapeutics to a “strong-buy” rating in a research report on Wednesday, February 5th. Guggenheim started coverage on Cidara Therapeutics in a research note on Friday, November 8th. They issued a “buy” rating and a $33.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 price target on shares of Cidara Therapeutics in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Cidara Therapeutics currently has an average rating of “Buy” and a consensus price target of $34.20.

About Cidara Therapeutics

Cidara Therapeutics, Inc, a biotechnology company, focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company's product includes rezafungin acetate, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of invasive fungal infections, including candidemia and invasive candidiasis, which are fungal infections associated with high mortality rates.